Review on Chainlink by Wisdom BOATENG
A revolutionary cryptocurrency
In its early days, I thought Chainlink was closely associated with 4chan, a site known for its controversial content. 4chan users were posting to LINK endlessly, which led me to think that Chainlink was a joke. However, LINK's promise was starting to materialize through its real-world application, through various high-profile partnerships and the growing use of Chainlink oracles. That's when I understood the seriousness and determination of the team.
Of course, achieving Chainlink’s ultimate goals will not be easy, as Chainlink’s success depends on the following:
-Global adoption of smart contracts,
-The demand for decentralized oracles for smart contracts.
-Chainlink’s ability to become a reliable and secure decentralized Oracle solution.
Obstacles will certainly stand in the way of Chainlink's goal of solving the elusive Oracle problem. But for now, Chainlink seems to be leading the way in linking the world to blockchain technology. The number of data providers, but also of entities that start to interact or use Chainlink to interact with each other is significant. There are a lot of them like Intel, Google, etc. This leads in 2019-2020 Chainlink to offer the best return on investment of all crypto. I think there is still huge potential with this decentralized application.
Pros
- The partnerships are also very impressive, many of them succeeding quickly since the launch of the mainnet
- Chainlink offers rewards. It is indeed possible to participate in Staking, that is to say in the Chainlink consensus mechanism.
Cons
- Young competitors in the market
New products
Comments (1)
January 14, 2021
pretty, this opinion is well detailed. I share your opinion on the subject, the recent rise in the course of LINK proves its usefulness but concerning young competitors, they create more accessible systems. LINK is the best it's true, but owning a node is expensive today. Projects like tellor have potential for success too;
